GBF Application Form - JWe to update the application form with new wording to reflect GDPR.
Meeting Minutes: Panel Meeting Wednesday, 06 June 2018
Confirmed, with minor amendment - remove ‘Condition applied’ to Omega Ingredients Limited.
Request made for distinction between Julie West (JWe) and Jeanette Wheeler (JWh) in the Minutes to
ensure clarity.
New Applications for Approval (7)
(a) LDH (La Doria) Limited - Agreed to support
Approved Grant: £500,000
One additional condition added.
(b) Glowcroft Limited - Agreed to support
Approved Grant: £38,742
No additional conditions. Three full-time jobs to be created.
(c) Pecksniffs Bespoke Fragrances & Cosmetics Limited - Agreed to support
Approved Grant: £202,500
No additional conditions. Fourteen and a half full-time jobs to be created
(Fourteen full-time roles and one part-time role)
(d) Gnaw Chocolate Limited - Agreed to support
Approved Grant: £25,330
Note: match finance needs to be confirmed and evidence provided.
Two full-time jobs to be created.
(e) Ponders End Investments PLC - Agreed to support
Approved Grant: £179,239 - de-minimis award.
Note: Job creation to be specific to new site
Thirty-six full-time jobs to be created.
(f) Netmatters Limited - Agreed to support
Approved Grant: £37,500
Four full-time jobs to be created.
(g) BCMZ Precision Engineering Limited - Agreed to support.
Approved Grant: £74,500
Four full-time jobs to be created.
Small Grant Scheme Update
JM provided update. The Panel noted the award of nine Small Grant Scheme grants in the month of May
2018, totalling £91,239 (Grants Awarded) - See Appendix 1.
It was noted that the current programme end date is 31 August 2018. Currently waiting decision from
MHCLG on a further three-year extension for the larger programme which includes the grant and will start
01 September 2018.
To date over £1 million has been paid out - over committed by approx. £500,000.
It was noted that Asset Finance remains an issue for the Small Grant Scheme. ERDF ruling on Asset
Finance is much stricter for the Small Grant Scheme than is the case for GBF in that the match has to be
paid out of the SMEs bank account as private sector match funding therefore asset Finance cannot be
used.
Funding and Jobs Creation
BH provided update. To date £420,000 paid out (this equates to 15% of this year’s budget). £1.6 million
has been approved but not yet drawn down, which with todays approved grants totals £3.088 million -
£298,000 over-committed.